Solar Panel Cost Guide in Quincy, IL (2024 Update)
- Quincy Solar Installation Cost: $16,435
- 25-Year Savings: $14,408
- Payback Period: 15.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Quincy
Find out what the average cost of solar panel installation is in Quincy.
In Quincy, solar panels cost about 4 per watt on average.Since a 6.2-kW system is needed to cover the energy needs of a typical home in Quincy, the average price of going solar will be about $16,435 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of installing solar panels can vary depending on several factors, such as what size system you need, your energy usage and what solar installer you go with.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Quincy can save around $16,000 on their power bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Quincy
| Year | Return on Investment |
|---|---|
| 1 years | $-15,584 |
| 3 years | $-13,883 |
| 5 years | $-12,182 |
| 7 years | $-10,480 |
| 9 years | $-8,779 |
| 11 years | $-7,078 |
| 13 years | $-5,376 |
| 15 years | $-3,675 |
| 17 years | $-1,974 |
| 19 years | $-273 |
| 21 years | $1,429 |
| 23 years | $3,130 |
| 25 years | $4,831 |
Top Solar Installers in Quincy
Many homeowners choose to hire a solar installation company since figuring out how to install solar panels on your own can be a lot of work. Solar warranties and repairs are often included in the cost of installation when you opt for a solar contractor as well, which can save you more money after your upfront investment.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Quincy
Factors that Affect Solar Panel Costs in Quincy
Though the average cost of a solar system in Quincy is $16,435, your actual cost may differ. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The type of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are provided by most installers in Quincy, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Quincy, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Quincy know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.91 | $16,424 | $8,886 | 16.2 years |
| 8 kW | $3.84 | $21,477 | $12,270 | 15.9 years |
| 10 kW | $3.76 | $26,320 | $15,863 | 15.6 years |
| 12 kW | $3.68 | $30,952 | $19,668 | 15.3 years |
| 14 kW | $3.61 | $35,374 | $23,683 | 15.0 years |
| 16 kW | $3.53 | $39,585 | $27,908 | 14.7 years |
| 18 kW | $3.46 | $43,586 | $32,344 | 14.4 years |
| 20 kW | $3.38 | $47,376 | $36,991 | 14.0 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Contract: Although reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Quincy, IL Solar Cost FAQs
What is the average cost of installing solar panels in Quincy?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Quincy is currently $164,755, which means you can look forward to a value of about $6,755 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Quincy is a worthwhile investment.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.